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CorporateResponsibility.Net:
Anticipating the release by the
Royal Bank of Scotland of its 2007 Corporate Responsibility Report, a coalition of NGOs are criticising the bank for funding fossil fuel developments in various parts of the world.
RBS' report isn't published until Friday (11 June), but Friends of the Earth Scotland, People & Planet, Platform, BankTrack and Scottish Education and Action for Development have already taken the bank to task for ploughing an estimated $6bn (£3bn) into oil companies and "heavily contested fossil fuel projects".
The NGOs expect the report to focus on the bank's $2-4bn loans to renewables projects, but says its investments in fossil fuel projects negate any claims the bank makes about its environmental stance.
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Source: Business Green